Intravoxel macroscopic B0 field inhomogeneity is common source for image artifacts, and can cause significant errors in quantitative analysis of the imaging data, particularly for gradient-echo-based acquisitions. This work presents a new method for intravoxel B0 inhomogeneity corrected reconstruction. Specifically, we derived a signal model that incorporates intravoxel B0 variations, and introduced a low-rank approximation to the encoding operator. This approximation allows for very efficient computation of the forward model, which can be integrated into any regularized reconstruction formulation. Effective correction for multi-gradient-echo data were demonstrated. We expect the proposed method to be useful for a range of applications involving T2* contrast.